Not really. Unless everyone moves to the same place. We need to diversify from London. Having everything centred there is madness.
Edit: I am being rate limited so I will respond here instead.
> Except for the lack of affordable housing?
Sort of. Affordable housing is more a problem of uneven distribution of opportunities than costs as such. If you are part of those who do get to take part in those opportunities this is less of a problem since you are effectively in the same situation as living in a richer country. Of course you also miss out on opportunities that would be enabled by affordable housing, and a lower cost of living. But since most more affordable location can't take advantage of that as their own cost of housing is usually relative to their local opportunities it becomes a game of who is the biggest which large companies in large cities win.
Except for the lack of affordable housing?
If you want to participate in that industry, you need to live in one of those cities or have the luxury caveat of remote workability.
Want to work in tech? Good luck buying a house for cheap - anywhere that property values are languishing will not have useable broadband internet providers.
Got a chemistry degree? There's a short list of cities to move to, where you specialize in either medicine or petrochemical plastics. The option to do either rarely exists in a single city.